Reported 11 months ago
The dollar reached a four-week high as investors awaited the US inflation report that could impact the timing of the Federal Reserve's rate cut. Strong US job gains and wage inflation in May raised concerns about sticky inflation and delayed rate cuts. The US central bank is expected to release the consumer price index for May just before concluding its policy meeting, with expectations of two rate cuts this year if inflation aligns with projections. The euro was pressured by EU political uncertainty, while the Bank of Japan is anticipated to taper its bond purchases.
Source: YAHOO